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As a new report reveals that 6 out of 10 workers feel their needs are not being addressed by their employer, more companies are being urged to offer personalized benefits to retain talent. This is according to the Future of Work 2024 report, commissioned by Zurich International Life.
“The one-size-fits-all approach to benefits no longer works. Employees want their benefits tailored and unique,” said Zubair Siddiqi, head of marketing management at Zurich Middle East, during an event announcing the findings. “We found that 9 out of 10 employees consider benefits crucial to their happiness, and 63 per cent desire customization of these benefits. It's as if the company offers children's education benefits, but I only have dogs; so, companies must really listen.”
The report, which surveyed 2,000 employees and 2,000 employers across industries in the UAE, KSA, Qatar, and Bahrain, also indicated that 68 per cent of respondents are actively seeking new job opportunities, signaling dissatisfaction with current employer offerings. Flexibility in daily working arrangements and compensation packages are equally vital to employees, according to the report.
Among the most sought-after employee benefits in the UAE are child education allowances, workplace savings plans, and life and critical illness insurance. “These are the top three benefits that employees voted for but are currently not receiving,” said Ashika Tailor, head of business development for employee benefits at Zurich Middle East. “This highlights the gap between what employees want and what employers provide.”
During a panel discussion, Paul Colley, head of workplace savings at Lockton, shared examples of companies going above and beyond to ensure employee happiness. “We had a client who offered women in their organization the option to freeze their eggs,” he said. “We then collaborated with an insurance provider to make IVF services available to these women. It was very well-received by the workforce.” He also mentioned another company that provided DNA testing for employees to check for susceptibility to cancers and other diseases.
“The diversification of work and employee expectations means that traditional employee benefits packages are no longer sufficient,” added Ashika. “Employees today demand more personalized, thoughtful packages that meet their individual needs. Companies need to actively engage with their teams to co-create benefits that ensure long-term satisfaction and loyalty.”
In addition to personalized benefits, well-being and empowerment emerged as crucial factors for employers to consider. “Nearly 70 per cent of employees said that well-being programs would directly impact satisfaction within the organization,” said Ashika. “This can significantly drive loyalty and make people healthier, happier, and more productive at work.”
The report emphasized the importance of providing both physical and mental health support to employees. “Today's talent places significant importance on comprehensive wellness programs and a focus on mental well-being,” said Devung Mahajan, Partner at Aon Hyman Capital Solutions, Middle East and Africa.
Talent scarcity remains a significant challenge in the UAE and Saudi Arabia, with one in three employers identifying it as a key issue. The report suggests that to retain talent, companies must ensure that employees feel valued.
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